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GP Q
@argosaki
IRAQ
ARE WE THERE YET?
(NB: CBI statement is from 19 September, not 4 October.)
STILL ON THE ROAD — 4 OCT
Nothing in today’s official tape says the dinar has been reset.
BAGHDAD
On 19 September the Central Bank said reserves were enough to cover import finance, card settlement and traveler cash at the posted rate, and that this official rate — not the street price — is what those windows use.
It blamed the parallel spike on speculation and people trading the region’s tensions, not an empty reserve account.
https://shafaq.com/en/Economy/CBI-counters-fears-over-dollar-supply
THE PEG
CBI’s published rate is still about 1,310 IQD per $1.
No decree today on a large revaluation, and no approved plan or timetable to drop zeros from the notes.
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THE PLUMBING:
Wholesale payment pipes are being rebuilt in public.
BIS Project Agorá — central banks plus 40-plus banks — has a working prototype for tokenised reserves and deposits, atomic multi-currency settlement, and compliance baked into the transaction.
In July 2026 it ran controlled real-value tests, about CHF 800,000 across 17 scenarios.
That is a lab for bank-to-bank rails, not a consumer currency swap.
IRAQ’S OWN TRACK:
Banking cleanup is real: compliance, correspondent access, less cash.
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The constraint has not moved.
Oil still funds the budget and the external account, and the IMF still treats fiscal rigidity and state-bank weakness as the binding risks.
https://imf.org/en/Countries/IRQ
WHAT THAT DOES AND DOES NOT MEAN:
Faster settlement, tokenised wholesale money, and tighter bank rules are documented.
None of those documents a hidden global reset, or a dated RV/GCR payout for dinar holders.
Until CBI publishes a new rate or a redenomination law, the peg is 1,310.
Source(s):
• https://x.com/argosaki/status/2106740727078351108
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